Since the low from early April, ICP has traded within a well-defined range between $4.5 and $6.0.
Recently, the price broke below the range support, reaching as low as $4.0, but this move lacked follow-through. Instead, ICP quickly rebounded — a classic false break signal.
This rebound also resulted in a break above the descending trendline that started in mid-August, giving the chart a decisively bullish tone.
At this stage, all signals point toward further upside continuation, with the upper boundary near $6.0 as the first natural target.
However, considering that false breaks in one direction often lead to real breaks in the opposite, there’s a strong possibility that ICP could break above $6.0 in the medium term, potentially accelerating toward the key $10.0 zone.
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✅ Key Takeaways:
• Range: $4.5 – $6.0
• False break below $4.0 reversed quickly
• Trendline from August broken to the upside
• Bullish outlook → targets $6.0 and possibly $10.0
Recently, the price broke below the range support, reaching as low as $4.0, but this move lacked follow-through. Instead, ICP quickly rebounded — a classic false break signal.
This rebound also resulted in a break above the descending trendline that started in mid-August, giving the chart a decisively bullish tone.
At this stage, all signals point toward further upside continuation, with the upper boundary near $6.0 as the first natural target.
However, considering that false breaks in one direction often lead to real breaks in the opposite, there’s a strong possibility that ICP could break above $6.0 in the medium term, potentially accelerating toward the key $10.0 zone.
________________________________________
✅ Key Takeaways:
• Range: $4.5 – $6.0
• False break below $4.0 reversed quickly
• Trendline from August broken to the upside
• Bullish outlook → targets $6.0 and possibly $10.0
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.